abrdn plc Buys 9,607 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

abrdn plc lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 135.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,677 shares of the insurance provider's stock after purchasing an additional 9,607 shares during the quarter. abrdn plc's holdings in RenaissanceRe were worth $3,269,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in RenaissanceRe by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider's stock valued at $1,072,235,000 after purchasing an additional 120,302 shares during the period. Boston Partners lifted its holdings in shares of RenaissanceRe by 7.1% during the 3rd quarter. Boston Partners now owns 2,052,716 shares of the insurance provider's stock worth $406,390,000 after acquiring an additional 135,861 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of RenaissanceRe by 20.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,451,530 shares of the insurance provider's stock worth $287,287,000 after acquiring an additional 249,196 shares during the period. Polar Capital Holdings Plc lifted its holdings in shares of RenaissanceRe by 7.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider's stock worth $218,653,000 after acquiring an additional 77,319 shares during the period. Finally, Cooke & Bieler LP increased its position in shares of RenaissanceRe by 97.9% during the 4th quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider's stock worth $213,440,000 after purchasing an additional 538,636 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Evercore ISI raised their price objective on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an "underperform" rating in a research report on Thursday, April 11th. UBS Group raised their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. TD Cowen initiated coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They issued a "market perform" rating for the company. Finally, BMO Capital Markets raised their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $247.89.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares of the company's stock, valued at $18,251,071. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Carol P. Sanders sold 880 shares of RenaissanceRe stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the sale, the director now directly owns 5,363 shares in the company, valued at $1,220,565.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares in the company, valued at $18,251,071. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,130 shares of company stock valued at $958,429. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Up 1.2 %

Shares of NYSE:RNR traded up $2.61 during trading on Monday, hitting $221.69. 375,223 shares of the company's stock were exchanged, compared to its average volume of 356,250. The firm has a 50-day moving average price of $226.81 and a two-hundred day moving average price of $216.30. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The firm has a market cap of $11.69 billion, a P/E ratio of 4.33, a PEG ratio of 2.91 and a beta of 0.30. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm earned $7.33 EPS. RenaissanceRe's quarterly revenue was up 17.9% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 34.43 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.39 per share. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.70%. RenaissanceRe's dividend payout ratio (DPR) is presently 3.05%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.